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Updated over 9 years ago on . Most recent reply

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5
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Jordan Webster
  • Minneapolis, MN
0
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5
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First Purchase - Home to Flip, or MFH to Owner-Occupy

Jordan Webster
  • Minneapolis, MN
Posted

As the title implies, which should I do first: Flip a home to sell or move into a MFH to owner occupy.

I've never owned a house before, but have plans to put my first flip deal under the LLC I just created. If I were to close on a flip first, how would that affect my plan to owner-occupy my first MFH and loan options? Would I then not qualify for any first time buyer programs that offer lower down payments? I am unsure because of the whole LLC vs personal residence thing.

Any feedback is much appreciated! Only even considering flipping first because I have a great team in place that I can trust!

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